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Greece finances back in order; EU body suggests ending disciplinary actions

Greece recorded a 0.7% surplus last year and is expected to have a deficit of only 1.2% in 2017

Reuters  |  Brussels 

Greece's fiscal position has improved and the European Union should end disciplinary procedures against it over its excessive deficit, the EU commission said on Wednesday, paving the way for the country to return to international bond markets. EU fiscal rules oblige member states to keep their budget deficits below 3 per cent of their economic output or face sanctions that could entail hefty fines, although so far no country has received a financial penalty. Greece recorded a 0.7 per cent surplus last year and is expected to have a deficit of only 1.2 per cent in ...

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First Published: Wed, July 12 2017. 23:32 IST
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